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Major reform in Japan targets USD5tr asset management sector

Japan’s asset management industry, worth USD5tr, is being reformed with top banks bolstering their strategies to transform dormant household savings into investments. This shift aligns with the government’s objective to stimulate the economy amid emerging inflation. Banks like Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group are key players in this change. Mitsubishi UFJ plans to double its assets under management to JPY200tr (USD1.4tr) by 2030, diversifying its product offerings. Sumitomo Mitsui is reallocating resources from trading to asset management, aiming to enhance its portfolio. Meanwhile, Sumitomo Mitsui Trust Bank plans a JPY500bn investment to expand into private asset markets by 2030, including acquisitions. This industry-wide shift is a response to the need for investment in an inflationary environment.


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